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Last Updated : Oct 20, 2019 02:59 PM IST | Source: PTI

Thomas Cook India's domestic leisure business growing at 25%

In the leisure travel portfolio for TCIL, the share of domestic segment is currently at 20 percent and the rest lies with outbound business.

Travel major Thomas Cook India Ltd (TCIL) has said that its domestic leisure business is growing at a CAGR of 25 percent, exceeding the rate of growth of its outbound travel segment.

The company does not foresee any major hurdle in maintaining the growth momentum as it expects that the financial collapse of the iconic British firm, Thomas Cook PLC will not have any impact on its operation,TCIL Sr VP (leisure) Romil Pant said.

"Domestic leisure travel service is comparatively new and was started few years ago. It is growing at a CAGR (compound annual growth rate) of 25 percent while our outbound travel business is expanding at 10-15 percent," Pant told PTI.

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In the leisure travel portfolio for TCIL, the share of domestic segment is currently at 20 percent and the rest lies with outbound business.

"We expect that share of domestic (travel business) should increase to 30-35 percent in the next 2-3 years as travelling within the country is gaining traction," Pant said.

The company will continue to add new destinations in both domestic and international travel, he said, adding that a 15-day Antarctica tour marketed at a cost of Rs 9.9 lakh per head, has fully been booked.

In view of the financial collapse of the UK-Based firm, TCIL does not foresee any adverse impact on its operations but is closely monitoring the developments, he said.

The company will take a call about the continuation with the brand 'Thomas Cook' for its future operation in India, he said.

Pant said TCIL is a completely different entity owned by Canada-based Fairfax Financial Holdings but it has the right to use the brand till 2025.

Thomas Cook UK had ceased to be the promoter of TCIL after it transferred its entire stake in 2012 to Fairfax.

The company officials, however, declined to comment on whether TCIL or Fairfax will make any attempt to buy out the brand.

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First Published on Oct 20, 2019 02:50 pm
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